TBWA's Purchase of Nippo
Will Reduce Nissan's Stake

Dow Jones Newswires

Updated Aug. 19, 1998 4:38 a.m. ET

TOKYO -- TBWA Worldwide, a unit of the U.S.'s Omnicom Group Inc., said Wednesday that it will acquire a majority stake in Japan's Nippo Corp., an advertising agency affiliated with Nissan Motor Co., by the end of September or early October.

TBWA Worldwide said it will acquire the unlisted Nippo shares from the Nissan Motor group and other Nippo shareholders. Because talks were still continuing among related concerns, financial terms...